Interactive Session With Dr. Manas Bhunia, Minister MSME, Govt. Of West Bengal At BCCI House
Worldwide Micro, Small & Medium Enterprises (MSMEs) have been accepted as the engine of economic growth and for promoting equitable development. MSMEs constitute over 90% of total enterprises in most of the economies and are credited with generating the highest rates of employment growth and account for a major share of industrial production and exports.
In India too, the MSMEs play a pivotal role in the overall industrial economy of the country. MSMEs in India account for more than 80% of the total number of industrial enterprises and produce over 8,000 value-added products. It is estimated that in terms of value, the sector accounts for 45% of the manufacturing output and 40% of the total export of the country and employs over 6 crore people. Further, in recent years the MSME sector has consistently registered higher growth rate compared to the overall industrial sector. The major advantage of the sector is its employment potential at low capital cost. In order to protect, support & promote Small & Medium Scale Enterprises (SMEs), a number of investment & promotional policies have been by the State Government. These include:
* Industrial extension services.
* Intuitional support in respect of credit facilities.
* Provision of developed sites for construction of sheds.
* Provision of training facilities.
* Supply of machinery on hire-purchase terms.
* Assistance for domestic marketing as well as exports.
* Special incentives for setting up enterprises in backward areas
* Technical consultancy & financial assistance for technological up gradation.
In addition, West Bengal has framed marketing policies for SMEs, which include price preference in purchases; exemption from payments of Earnest money; distribution of products through the public distribution system; construction and development of industrial estates, plots, commercial and trade offices; extension of credit support through the West Bengal Financial Corporation, State Cooperative Banks and Commercial Banks; and eligibility to incentives as provided under the West Bengal Incentive Scheme.